India and Russia have signed a $1.5 billion deal for India to buy a Russian aircraft carrier.
An Indian defense ministry statement said officials from the two sides signed the agreement in New Delhi Tuesday in the presence of visiting Russian Defense Minister Sergei Ivanov and his Indian counterpart, George Fernandes.
Mr. Ivanov, who arrived in the Indian capital Monday for a three-day visit, told reporters he expects the refurbished carrier Admiral Gorshkov to be delivered to the Indian Navy by 2008.
Under the deal, India is also buying MiG-29 fighter jets and armaments used with the aircraft carrier.
Russia and India have been discussing the deal for more than three years.
Russia is one of India's biggest military suppliers, providing more than 70 percent of its military hardware.
Some information for this report provided by AP and AFP.